FFAI vs PRPL: Correlation
How closely do Faraday Future Intelligent Electric Inc. (FFAI) and Purple Innovation, Inc. (PRPL) trade together? Their weekly returns over three years give a correlation of 0.91, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FFAI and PRPL?
On 3 years of weekly data the FFAI/PRPL correlation comes out at 0.91, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (1.00) sits close to the 3-year figure. The 5-year figure is 0.91, and annualized covariance runs at 3994791.7 %².
PRPL is one of the assets that tracks FFAI most closely: it ranks #2 out of the 17 assets we track against FFAI. Correlation aside, the last 12 months split them widely, with PRPL ahead by 306.6 points (-2.1% versus +304.5%). Risk is not evenly split, since FFAI carries 2.1 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FFAI vs PRPL: side by side
| FFAI (Faraday Future Intelligent Electric Inc.) | PRPL (Purple Innovation, Inc.) | |
|---|---|---|
| 1-year return | -2.1% | +304.5% |
| 5-year return | -100.0% | -82.0% |
| Volatility (ann.) | 3004.8% | 1465.4% |
| Beta vs S&P 500 | -1.32 | -2.51 |
| Max drawdown (3Y) | -100.0% | -87.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FFAI | PRPL |
|---|---|---|
| 2022 | -94.5% | -63.9% |
| 2023 | -99.0% | -78.3% |
| 2024 | -91.2% | -24.3% |
| 2025 | -58.0% | -11.4% |
| 2026 | +128.4% | +549.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FFAI and PRPL good diversifiers for each other?
No: a correlation of 0.91 means FFAI and PRPL tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between FFAI and PRPL?
Using weekly returns as of 2026-08-27: 0.91 over 3 years, with 1.00 over the last year and 0.91 over 5 years.
Is PRPL a good diversifier for FFAI?
No: a correlation of 0.91 means FFAI and PRPL tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.91 mean?
On the −1 to +1 scale, 0.91 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ffai-vs-prpl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ffai-vs-prpl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FFAI correlations · PRPL correlations
